Belgium’s Financial Services and Markets Authority, FSMA, on Tuesday reissued a warning against fraudulent offers to invest in wine.
“The principle is always the same: after clicking on an advertisement on social networks, you receive a telephone call from a marketer who makes you offers to invest in wine and invites you to consult a platform for the purchase and sale of grands crus,” the FSMA explained.
These companies then undertake to buy the wine, store it in a cellar for the customer, find buyers and generate significant capital gains. “These investments are too good to be true. Be vigilant because despite the promises, you will never get your money back,” the authority warned.
Fraudulent companies reported in recent weeks include Metropole Conseil and Gst Investissement. “These companies are unlicensed and are not authorised to provide investment services on Belgian territory,” the FSMA said.
